AXA XL, a Bermuda-based subsidiary of French re/insurer AXA, has launched a new insurance solution to cover the risks associated with autonomous vehicles.

The new insurance product will help companies develop or use autonomous technology to manage and transfer new and evolving risks.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The policy provides core cover for third-party liability, damage to property, and vehicle theft.

Clients can also add an additional cover or extend existing cover as per their needs, the company said.

AXA provides modular coverage options like liability covers for damage, custody or control, cyber-attacks, among others.

Clients can avail extension covers like statutory motor liability cover, cyber extension, crisis management or response service, loss of turnover extension.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

AXA XL Europe international casualty head Mukadder Erdoenmez commented: “Investment in the development of autonomous technologies has skyrocketed in recent years, reaching $10.3bn in 2018 alone, according to venture capital experts Pitchbook.

“The number of companies using intelligent machines within their operations is also increasing.”

AXA XL autonomous systems & vehicles underwriting manager Sinan Geylani added: “We saw this as an opportunity and created a customisable single policy to support those forward-thinking companies that are already shaping and using autonomous technologies.”

AXA XL already has significant experience in the field of autonomous technologies.

In 2017, AXA XL joined DRIVEN consortium to deploy a fleet of autonomous vehicles between Oxford and London, UK.